2023-12-13 20:19:00
SBI Mutual Fund Acquires 1.5% Stake in Karur Vysya Bank
In a recent development, SBI Mutual Fund has acquired a 1.5 per cent stake in RBI-listed merchant bank Karur Vysya Bank. According to the statistics of Mumbai Stock Exchange and National Stock Exchange, SBI Mutual Fund bought 1.5 percent of Karur Vysya Bank’s 1.2 crore shares.
The acquisition of the shares was done in an open market exchange, with SBI Mutual Fund reportedly paying Rs 194.40 crore for the stake. This means that the shares were acquired at a price of Rs 162 per share.
This move by SBI Mutual Fund is significant and highlights the potential growth opportunities that they see in Karur Vysya Bank. With this acquisition, SBI Mutual Fund has shown its confidence in the future prospects of the bank and its ability to deliver returns to its investors.
The acquisition of a stake in Karur Vysya Bank also reflects the overall positive sentiment towards the banking sector in India. It will be interesting to see how this investment pans out for SBI Mutual Fund and the impact it has on Karur Vysya Bank’s performance in the coming months.
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